BakerHicks’ parent company, Morgan Sindall Group, announce Full Year Results
Morgan Sindall Group, the parent company of BakerHicks, released their Full Year Results today (25th February), which demonstrated resilience in the face of the Covid-19 pandemic.
The Group delivered an adjusted operating profit of £68.5m on revenue of £3.0bn. Whilst this represents a drop from the 2019 figures of £93.1m operating profit and £3.1bn revenue, the Group’s secured order book of £8.3bn showed a 9% year-on-year increase.
With a strengthened balance sheet and net cash of £333m, up from £193m in 2019, the Group has ended 2020 with real momentum. It now expects profit to be materially ahead of its previous expectations and slightly ahead of that delivered in 2019.
Chief Executive, John Morgan, said:
“2020 was dominated by Covid, and it continues to dominate and reshape our world, yet today the Group is much stronger than this time last year. I am hugely proud of our teams who have done great things throughout the year. This would not have been possible without the strong support of our clients, our partners and everyone in our supply chain. A huge thanks to everybody.
“We have a strong balance sheet which allows us to make all the right long term and short term decisions, and we have a clear and transparent path to reducing our carbon emissions. We’re emerging from this challenging period stronger, with teams even more determined and confident in their ability to challenge the status quo and drive things forward at pace.”
Watch the below video to find out more: